Federal Reserve Chair Kevin Warsh’s proposal to reduce forward guidance would give monetary policymakers useful flexibility at the cost of market transparency

Coverage of the American economy and the policy that shapes it: inflation, employment, tariffs, taxation and the federal budget. Distinct from business news, which follows companies rather than the decisions taken in Congress and at the Federal Reserve.

How issuers manage money supply, inflation, and interest rates. These rules make or break a currency's credibility as a store of value.

At Jackson Hole on 28 August, Chair Kevin Warsh called financial conditions unrestrictive and underlying inflation barely improved, while refusing forward guidance. Market odds of a September quarter-point rise moved from about one in three to sixty percent.